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801 Scarlett Road Weatherford, TX 76087

4 Beds 3 Baths 2,178 sqft Built 1991

$350,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $160.70
  • 6 Days on Market
  • MLS # : 14490985
  • Updated Date : 12/28/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,178 sqft
  • Baths : 3 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

Fantastic Country Living! Wonderful location! 4 bedroom, 3 full baths on 1.994 acres of totally useable land. Updated kitchen with granite counter tops, island, double ovens and gas cooktop plus a breakfast bar. Large living room, formal dining, great primary bedroom. Primary bath has separate vanities, separate shower and a jetted tub. 2 of the bedrooms share a Jack and Jill bath. Large covered patio for cooking out, relaxing and entertaining. House sits back from Scarlett Rd, for privacy, concrete driveway and additional parking for all your company. Room for a barn or workshop. Bring your horses and the kids. They will love it.

SEE MORE

MARKET HIGHLIGHTS

  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Bill W. Wright Elementary School Primary Regular 663 45 4
Hall Middle School Middle Regular 592 41 5
Weatherford High School High Regular 2,238 148 6

Bill W. Wright Elementary School

  • Education Level: Primary
  • # of students: 663
  • # of teachers: 45
4
GreatSchools Rating

Hall Middle School

  • Education Level: Middle
  • # of students: 592
  • # of teachers: 41
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,291
Property Tax -$745
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
-$158

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,718

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,130

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,004

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8503$2,130
$2,130
RENT COMPS ANALYSIS
  • 801 Scarlett Road Weatherford, TX 3
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.98
    •  
  • 929 Jodie Drive Weatherford, TX 1
    • 4 beds 2 baths ∙ 1,983 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,983 Sqft ∙ Built 2007
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 2214 Brandy Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2010
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
PROPERTY LISTING DETAILS
Ronnie Warren
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490985
Last Updated: 12/28/2020
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